IPON: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
IPON
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €2.5m-€996,184
Equity
€27.2m
2024 · €26.0m+€1.2m
Cash
€2.9m
2024 · €1.4m+€1.4m
Balance sheet total
€43.5m
2024 · €39.4m+€4.0m
Largest movements
Assets
- Stocks and contracts +€4.8m
up €4.8m (+51.5%), from €9.4m to €14.2m
- Tangible fixed assets -€1.9m
down €1.9m (-12.7%), from €14.7m to €12.9m
of which Land and buildings: -€1.9m
- Cash +€1.4m
up €1.4m (+102.7%), from €1.4m to €2.9m
mainly Other debts (+€2.1m) and Investment in fixed assets (net) (+€1.7m)
Equity and liabilities
- Other debts +€2.1m
up €2.1m (+62.8%), from €3.3m to €5.3m
- Profit (loss) carried forward +€1.5m
up €1.5m (+6.8%), from €22.5m to €24.1m
- Debts after one year +€930,161
up €930,161 (+12.7%), from €7.3m to €8.2m
of which Financial debts: +€930,161
- Trade debts -€527,031
down €527,031 (-28.5%), from €1.8m to €1.3m
Income statement
- Gross operating margin -€1.1m
down €1.1m (-29.2%), from €3.8m to €2.7m
- Financial income -€277,185
down €277,185 (-40.0%), from €693,114 to €415,929
- Other operating charges -€145,889
down €145,889 (-55.6%), from €262,221 to €116,333
- Taxes -€129,711
down €129,711 (-19.4%), from €668,313 to €538,602
- Financial charges -€108,330
down €108,330 (-17.8%), from €608,127 to €499,797
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€2.5m
Gross operating margin
-€1.1m
Staff costs
-€1,163
Depreciation
+€5,042
Other operating charges
+€145,889
Other operating items
-€310
Financial income
-€277,185
Financial charges
+€108,330
Taxes
+€129,711
Result 2025
€1.5m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€918,873
Investment
+€1.7m
Financing
+€626,077
Cash 2024
€1.4m
From operations (derived)
-€918,873
Net result for the year
+€1.5m
Depreciation
+€125,286
Stocks and contracts
-€4.8m
Receivables within one year
+€350,000
Deferred charges and accrued income
+€54,905
Provisions
-€9,414
Trade debts
-€527,031
Tax, wage and social debts
+€158,187
Other debts
+€2.1m
Accrued charges and deferred income
+€161,532
Investment (derived)
+€1.7m
Investment in fixed assets (net)
+€1.7m
Financing
+€626,077
Debts after one year
+€930,161
Short-term financial debts
+€4,850
Contributions, distributions and other
-€308,935
Cash 2025
€2.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,446,918 | €43,462,701 | +€4.0m | +10.2% |
| Fixed assets | 21/28 | €14,885,095 | €13,019,798 | -€1.9m | -12.5% |
| Tangible fixed assets | 22/27 | €14,739,495 | €12,862,998 | -€1.9m | -12.7% |
| Land and buildings | 22 | €14,707,624 | €12,818,779 | -€1.9m | -12.8% |
| Plant, machinery and equipment | 23 | €31,871 | €22,499 | -€9,372 | -29.4% |
| Furniture and vehicles | 24 | - | €21,721 | +€21,721 | |
| Financial fixed assets | 28 | €145,600 | €156,800 | +€11,200 | +7.7% |
| Current assets | 29/58 | €24,561,823 | €30,442,903 | +€5.9m | +23.9% |
| Stocks and contracts in progress | 3 | €9,396,962 | €14,235,735 | +€4.8m | +51.5% |
| Stocks | 30/36 | €9,396,962 | €14,235,735 | +€4.8m | +51.5% |
| Amounts receivable within one year | 40/41 | €13,667,214 | €13,317,213 | -€350,000 | -2.6% |
| Trade receivables | 40 | €2,355,383 | €3,532,089 | +€1.2m | +50.0% |
| Other amounts receivable | 41 | €11,311,831 | €9,785,125 | -€1.5m | -13.5% |
| Cash at bank and in hand | 54/58 | €1,409,639 | €2,856,853 | +€1.4m | +102.7% |
| Deferred charges and accrued income | 490/1 | €88,008 | €33,102 | -€54,905 | -62.4% |
| Total equity and liabilities | 10/49 | €39,446,918 | €43,462,701 | +€4.0m | +10.2% |
| Equity | 10/15 | €25,958,256 | €27,198,488 | +€1.2m | +4.8% |
| Contributions | 10/11 | €492,000 | €492,000 | = | 0.0% |
| Capital | 10 | €492,000 | €492,000 | = | 0.0% |
| Issued capital | 100 | €492,000 | €492,000 | = | 0.0% |
| Reserves | 13 | €2,918,386 | €2,624,356 | -€294,029 | -10.1% |
| Non-distributable reserves | 130/1 | €49,200 | €49,200 | = | 0.0% |
| Legal reserve | 130 | €49,200 | €49,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,869,186 | €2,575,156 | -€294,029 | -10.2% |
| Profit (loss) carried forward | 14 | €22,547,871 | €24,082,131 | +€1.5m | +6.8% |
| Provisions and deferred taxes | 16 | €142,141 | €132,727 | -€9,414 | -6.6% |
| Deferred taxes | 168 | €142,141 | €132,727 | -€9,414 | -6.6% |
| Amounts payable | 17/49 | €13,346,520 | €16,131,486 | +€2.8m | +20.9% |
| Amounts payable after more than one year | 17 | €7,309,793 | €8,239,954 | +€930,161 | +12.7% |
| Financial debts | 170/4 | €5,821,424 | €6,751,585 | +€930,161 | +16.0% |
| Other amounts payable | 178/9 | €1,488,369 | €1,488,369 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,917,977 | €7,611,250 | +€1.7m | +28.6% |
| Financial debts | 43 | €711,738 | €716,589 | +€4,850 | +0.7% |
| Credit institutions | 430/8 | €711,738 | €716,589 | +€4,850 | +0.7% |
| Trade debts | 44 | €1,848,515 | €1,321,483 | -€527,031 | -28.5% |
| Suppliers | 440/4 | €1,848,515 | €1,321,483 | -€527,031 | -28.5% |
| Taxes, remuneration and social security | 45 | €81,351 | €239,538 | +€158,187 | +194.4% |
| Taxes | 450/3 | €38,851 | €184,358 | +€145,507 | +374.5% |
| Remuneration and social security | 454/9 | €42,500 | €55,180 | +€12,680 | +29.8% |
| Other amounts payable | 47/48 | €3,276,373 | €5,333,641 | +€2.1m | +62.8% |
| Accrued charges and deferred income | 492/3 | €118,750 | €280,282 | +€161,532 | +136.0% |
| Remuneration, social security and pensions | 62 | €276,555 | €277,718 | +€1,163 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,328 | €125,286 | -€5,042 | -3.9% |
| Other operating charges | 640/8 | €262,221 | €116,333 | -€145,889 | -55.6% |
| Non-recurring operating charges | 66A | - | €310 | +€310 | |
| Gross operating margin | 9900 | €3,788,366 | €2,681,868 | -€1.1m | -29.2% |
| Operating profit (loss) | 9901 | €3,119,262 | €2,162,221 | -€957,040 | -30.7% |
| Financial income | 75/76B | €693,114 | €415,929 | -€277,185 | -40.0% |
| Recurring financial income | 75 | €693,114 | €415,929 | -€277,185 | -40.0% |
| Financial charges | 65/66B | €608,127 | €499,797 | -€108,330 | -17.8% |
| Recurring financial charges | 65 | €608,127 | €499,797 | -€108,330 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €3,204,249 | €2,078,354 | -€1.1m | -35.1% |
| Transfer from deferred taxes | 780 | €9,414 | €9,414 | = | 0.0% |
| Income taxes | 67/77 | €668,313 | €538,602 | -€129,711 | -19.4% |
| Profit (loss) for the period | 9904 | €2,545,350 | €1,549,166 | -€996,184 | -39.1% |
| Transfer from tax-exempt reserves | 789 | €181,029 | €925,529 | +€744,500 | +411.3% |
| Transfer to tax-exempt reserves | 689 | €631,500 | €631,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,094,879 | €1,843,195 | -€251,684 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.